Kraken Introduces No-Fee USD Deposits with Signature and MVB Bank

Funding your Kraken account is now easier, faster and more cost-effective with our newest integration with Signature Bank.

Announced today, clients who take advantage of this integration will receive free deposits on domestic and international USD wire transfers and pay only a low $4 fee per withdrawal.

The move is the latest that delivers on our commitment to onboard more banking partners than any other cryptocurrency firm, building on our most recent integration with MVB Bank this July.

With the news, we have also waived the deposit fee for MVB Bank, meaning clients now have two new no-fee USD deposit options.

We believe our clients need simple and widely available on-ramps to purchase crypto, and with Signature Bank, we’re taking another step toward fulfilling that commitment in the U.S.

You can find the full details about both offerings below.

Signature Bank

Fees

  • Deposits: Free
  • Withdrawals: $4 USD per wire (FedWire or SWIFT)

Processing Times

  • Domestic FedWire: 0-1 business days
  • International SWIFT: 0-5 business days

Minimum and Maximum Amounts

  • Minimum deposit/withdrawal: $20
  • Maximum deposit/withdrawal: Depends on individual account limits

Availability

  • Domestic FedWire: US only (not available in NY, WA, TX)
  • International SWIFT: Worldwide

MVB Bank

Fees

  • Deposits: Free
  • Withdrawals: $4 USD per wire (FedWire)

Processing Times

  • Domestic FedWire: 0-1 business days

Minimum and Maximum Amounts

  • Minimum deposit/withdrawal: $20
  • Maximum deposit/withdrawal: Depends on individual account limits

Availability

  • Domestic FedWire: US only (not available in NY, WA, TX)

Photo by Floriane Vita on Unsplash

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